Hikma Pharmaceuticals has entered into a non-binding term sheet with GlaxoSmithKline (GSK) for the purposes of potentially acquiring GSK’s interests in Egypt and Tunisia
Bank Audi and First Abu Dhabi Bank (FAB) announced the signing of a definitive agreement for the acquisition by FAB of 100% of the share capital of Bank Audi sae, Bank Audi’s subsidiary in Egypt.
Egyptian Minister for Petroleum and Mineral Resources Tariq Al-Mulla, signed the concession agreement with Mubadala Petroleum for oil and gas exploration activities in the Red Sea Block 4.
Energean announced that Final Investment Decision has been taken on the North El Amriya and North Idku (NEA/NI) concession subsea tieback project in offshore Egypt.
Through a new initiative, IFC will work with financial institutions in four countries to mobilize private sector financing for climate mitigation and adaptation projects and help align financial-sector strategies with the targets of the Paris Climate Agreement.
Qatar Airways resumed flights to Cairo in the Arab Republic of Egypt with a daily service. QR1301 departed Hamad International Airport to Cairo International Airport at 15:15 local time and landed at its destination at 17:40 local time.
Telecom Egypt and the Ministry of Social Solidarity sign agreement to support social protection programmes
Telecom Egypt and the Ministry of Social Solidarity have signed an agreement to provide telecommunications services to the Ministry and the beneficiaries of social protection programs, namely the "Takaful and Karama" programmes.
Apex International Energy, which is backed in part by UK energy investment firm Blue Water Energy, announced a new oil discovery in Southeast Meleiha Concession (SEM), located in the Western Desert of Egypt.
The National Authority for Tunnels, a governmental authority under the jurisdiction of the Ministry of Transport of Egypt, and Siemens Mobility signed an MoU to design, install and commission Egypt’s first ever high-speed rail transportation system.
The European Bank for Reconstruction and Development (EBRD) and the United Nations World Tourism Organization (UNWTO), joined forces to support countries that are among the most dependent on tourism for jobs and economic growth.
EFG Hermes, the financial services corporation in Frontier Emerging Markets (FEM), announced the successful closing of the first issuance in an EGP 6.5 billion securitization program for Amer Group, Porto Group, and Qasatli.
Egyptian life science startup Nawah Scientific announced the the closing a second pre-series A round of $1 million in mixed equity and debt capital, raising its total funding to $2 million.
Docspert Health, a telemedicine startup with operations in the UK and Egypt, announced it has successfully closed Six-Figure USD investment in seed funding from Flat6Labs and a group of angel investors in the UK and USA.
Zenith Energy announced it has entered into a cooperation agreement (CA) with Fleet Oil & Gas, a privately owned oil and gas company led by the former Egyptian Petroleum Minister, Eng. Mahmoud Latif Amer.
Temenos, the banking software company announced that Arab Investment Bank has selected Temenos to power its digital customer experience.
TradeTech innovator, Ovamba Solutions and financial services provider, Singularity Finance have partnered to deliver financial inclusion and growth capital to small and growing businesses in Egypt.
Egypt-based fintech startup Cassbana has raised $1 million in a pre-seed funding round led by Egyptian fintech-focused venture capitalist fund Disruptech Ventures.
The U.S. Trade and Development Agency (USTDA) awarded grants to the Amreya Petroleum Refining Company (APRC) and Suez Oil Processing Company (SOPC) for feasibility studies to modernize each company’s refinery.
B Investments announced it has entered into an agreement to sell 20% of its stake in Total Egypt to Total Outre-Mer for a total consideration of approximately EGP 146 million.
United Oil & Gas (UOG) announced the completion of the ASH gas pipeline in the Abu Sennan Licence, Egypt, where UOG holds a 22% working interest in the Licence, which is operated by Kuwait Energy Egypt.
The European Bank for Reconstruction and Development (EBRD) is breaking fresh ground with a $12 million loan to Al Dau Al Haram for Hotel Operations for the regeneration of a brownfield site into a Hyatt Regency hotel in Egypt.
The European Investment Bank (EIB) is providing Banque Misr with a €425 million credit line to support Egyptian private small and medium-sized enterprises.
Telecom Egypt has signed an agreement with Google to provide Google with the first of its kind layer three meshed solution on multiple Telecom Egypt’s redundant and resilient Egypt crossing network infrastructure.
An international consortium led by Total and the Egyptian Natural Gas Holding company (EGAS) signed an exploration and production agreement for the North Ras Kanayis Offshore block located in the Herodotus Basin, offshore Egypt.
The European Investment Bank (EIB) and the Arab Republic of Egypt signed a €1.128 billion agreement to support investments in the rehabilitation and expansion of metro and tram systems in Alexandria and Cairo.
Mastercard signs partnership with Carticard to spur digital economy and drive financial inclusion in Egypt
Mastercard has announced a partnership with Carticard, egabi FSI’s strategic partner, to offer Carticard customers improved digital payment solutions while incorporating more people into the digital economy.
The discovery was achieved through the Arcadia 9 well, drilled on the Arcadia South structure, which is located 1.5 km south of the main Arcadia field already in production.
Egypt could unleash economic growth and create more and better jobs by addressing constraints to private sector activity, according to a report published by the World Bank Group.
Global logistics and supply chain company CEVA Logistics continues to expand its presence in the African market with the strengthening of its presence in two countries through two joint ventures.
IFC signed a partnership agreement with the American Chamber of Commerce in Egypt (AmCham Egypt) to help Egyptian companies create more flexible and inclusive workplaces.
The European Bank for Reconstruction and Development (EBRD) is promoting the expansion of renewable energy in Egypt by supporting one of the first green private-to-private projects in the country, with an initial $4.2 million loan to TAQA PV for Solar Energy.
TransGlobe Energy Corporation has announced it has reached an agreement with the Egyptian General Petroleum Corporation, EGPC, to merge the Company’s three existing Eastern Desert concessions.
Africa's overall mobile phone market shipments declined 6.0% year on year (YoY) in Q3 2020, according to the latest insights from global technology research and consulting firm International Data Corporation (IDC).
Codebase Technologies, the digital banking solutions provider, announced the launch of its Digital Banking as a Service platform, Digibanc SaaS, to create access for more banks and customers to move into the digital age of banking.
United Oil & Gas, the growing oil and gas company with a portfolio of production, development, exploration and appraisal assets, announced the commencement of a drilling programme on the Abu Sennan concession in Egypt.
Eni has signed a series of agreements with the Arab Republic of Egypt, the EGPC, EGAS and the Spanish company Naturgy, which pave the way for the restart of the Damietta liquefaction plant in Egypt by the first quarter of 2021.
TechnipFMC has successfully completed the remaining conditions required to enable work to commence on the Engineering, Procurement, and Construction (EPC) contract with Assiut National Oil Processing Company (ANOPC).
Sarwa Capital, Egypt’s consumer and structured financial services provider, has successfully closed its inaugural Sukuk issuance by Sarwa Sukuk Company; a subsidiary of Sarwa Capital, of $159.8 million.
Africa Energy Investment Corporation and Afreximbank reach agreement on deal to boost Africa's oil investments
Egypt Petroleum and Mineral Resources Minister Tarek el Mulla has said that the Africa Energy Investment Corporation (AEICORP) and the African Export-Import Bank (Afreximbank) have reached a preliminary framework agreement that is set to be signed in Cairo.
Grifols, Egyptian government partner to boost plasma-derived medicines self-sufficiency in the Middle East and Africa
Grifols, one of the world’s leading producers of plasma-derived medicines and the Government of Egypt signed a strategic agreement to further develop the Egyptian plasma-derivatives market and promote its self-sufficiency.
Neptune Energy announced Mohamed Mounes Shahat will join the company in December to take on the role of Egypt Managing Director, based in Cairo.
Aircraft transaction and brokerage company JetHQ has expanded its capabilities to meet the needs of its clients in Egypt by appointing Sherif Abouzeid to head its newly created office.
Eutelsat’s survey confirms 7/8° West neighborhood as predominant broadcast position for Egyptian TV homes
Eutelsat Communications revealed the findings of a new Egyptian television market survey, confirming its 7/8° West hotspot as the most powerful neighborhood for satellite television for the country.
IFC and the Agricultural bank of Egypt (ABE) announced a partnership to help of Egyptian farmers access financing to purchase solar irrigation systems, reducing their reliance on diesel-powered generators and boosting their productivity.
Egypt petroleum Minister Tarek el Mulla has discussed with South Korean Ambassador to Egypt Hong Jin-wook the activities of South Korean firms specialized in carrying out oil projects.
Egypt Petroleum Minister Tarek el Molla recently held a meeting with Nigerian Minister of State for Mines and Steel Development Uchechukwu Ogah to discuss means of boosting bilateral cooperation.
Ibnsina Pharma signed an agreement to acquire 75% stake in Egyptian health and beauty products startup 3elagi Tech, a platform that links pharmacies with patients to order medicines and cosmetics online.
TransGlobe Energy has announced its highlights of its operational program in Egypt within its financial and operating results for the three and nine months ended September 30, 2020.
Elsewedy Electric, wires & cables and Integrated energy solution provider in Middle East and Africa, announced its subsidiary Elsewedy Electric for Trading & Distribution, signed new EPC contracts with the Egyptian Electricity Transmission Company.
DPI, CDC partner to create $750m biopharmaceutical platform to broaden access of vital specialty generic drugs across Africa
Development Partners International (DPI) through its ADP III fund, CDC Group, and the European Bank for Reconstruction and Development have joined forces in a ground-breaking deal to create a major new player in the pan-African pharmaceuticals industry.
Dana Gas, the Middle East’s regional private sector natural gas company announced that the Company generated a net profit of $31 million during the first nine months of 2020, excluding one-off non-cash impairments and other income items.
Orange Egypt, the provider of integrated telecommunications services, announced an exclusive partnership with Deezer, the global audio streaming service.
Multinational oil and gas company BP announced two gas production startup in Egypt at Qattameya gas field and Atoll-4.
The European Bank for Reconstruction and Development (EBRD), the European Union (EU) and the Green Climate Fund (GCF) are boosting green finance on the Egyptian economy and the development of value chains for the private sector.
The Egyptian Prime Minister Mostafa Madbouly issued a decree appointing Amr Mohamed Mahfouz Hussein the CEO of the Information Technology Industry Development Agency (ITIDA), for one year.
CEQUENS, an Egyptian company by origin and a Communications-Platform-as-a-Service (CPaaS) provider globally, announced a deal with WhatsApp to become a Solution Provider for WhatsApp Business.
dLocal, the cross-border payment platform connecting global merchants to emerging markets, has expanded its payments network to include Kenya, Senegal, Ghana, and Cameroon.
Telecom Egypt, Egypt’s integrated telecom operator and subsea cables operators in the region is building Egypt's largest international data center facility.
Panoro Energy announced that the Guebiba 10 sidetrack well located in the Guebiba oilfield in Tunisia and part of the Thyna Production Services concession has been successfully drilled and completed.
bp announced the start of gas production from its latest development offshore Egypt, the Qattameya gas field in the North Damietta offshore concession.
Dana Gas announced it has entered into a binding agreement with IPR Wastani Petroleum, a member of the IPR Energy Group (IPR) for the sale of its onshore Egyptian producing oil and gas assets for a consideration of up to $236 million.
Siemens Energy inaugurated a service center and a training academy in Egypt which combines a repair center, a tooling center and a spare-parts warehouse under one roof.
Egypt's exports of crops hit 1.67 billion dollars in eight months, Jan-Aug 2020, according to the Ministry of Trade and Industry.
Egyptian last-mile delivery startup dreevo launches operations with pre-seed funding from EF Logistics
Egyptian last-mile delivery focused startup dreevo raised a six figure US dollar in a bootstrap, pre-seed funding round from EF Logistics, a third party logistic services provider, to introduce agile and affordable technological solutions.
The Central Bank of Egypt has announced setting up EgyCash company for technological solutions of monetary dealing.
IFC announced an investment in an Egyptian private equity fund to help improve access to capital for small- and medium-sized companies in the country, supporting their resilience, growth, and ability to create jobs.
The United States, through the USAID and Egypt’s Ministry of International Cooperation signed an agreement to add $22.8 million to the five-year Inclusive Economic Governance bilateral assistance agreement.
The Russian Direct Investment Fund (RDIF) and Pharco, a pharmaceutical group in Egypt have agreed to secure the supply of 25 million doses of the Sputnik V vaccine to Egypt.
Mondia, a technology company which specialises in marketing and distribution of digital content and Jumia, Africa’s largest e-commerce platform, launched Jumia Games, a competitively priced entertainment category on the JumiaPay App.
The European Investment Bank (EIB) signed a commitment of $22 million with LCP FUND II COÖPERATIEF U.A., a generalist private equity fund targeting primarily growth capital investments in SMEs and mid-market companies in Egypt.
The European Bank for Reconstruction and Development (EBRD) is boosting the resilience of the financial sector in Egypt and supporting equity financing to small and medium-sized businesses by investing up to $50 million in LCP Fund II.
Egypt has signed $934 million across eight exploration and research agreements, following a push to attract new entrants to develop its burgeoning gas market.
World Bank supports improvement of air quality, fight against climate change in Greater Cairo, Egypt
The World Bank approved a $200 million project to support Egypt’s initiatives to reduce air and climate pollution from critical sectors and to increase resilience to air pollution in Greater Cairo.
The UK Department for International Trade (DIT) and Egyptian British Chamber of Commerce (EBCC) organised first retail webinar to explore retail and e-commerce opportunities for British companies in the Egyptian market.
In an attempt to diversify its debt portfolio, Egypt Finance Ministry is getting ready to issue the country's first sovereign green bonds in the Middle East and North Africa (MENA) region.
Fitch Ratings has affirmed National Bank of Egypt's (NBE) Long-Term Issuer Default Rating (IDR) at B+ with a Stable Outlook; it has also affirmed NBE's Viability Rating (VR) at b+ and removed it from Rating Watch Negative (RWN).
Orange Egypt signed a cooperation agreement with Elsewedy Technical Academy to provide students with a set of educational scholarships, integrated educational and training program over a 3-year period.
The Egyptian Ministry of Petroleum and Mineral Resources has hosted the signing ceremony of the statute of East Mediterranean Gas Forum (EMGF), establishing it as a regional intergovernmental organization, based in Cairo.
The U.S. Department of Energy’s National Nuclear Security Administration (NNSA) is allocating $1 million in funding to the International Atomic Energy Agency (IAEA) to help Egypt enhance radiation therapy for cancer patients.
CTI Clinical Trial and Consulting Services (CTI) has announced the acquisition of Clinart, a full-service CRO with nearly 20 years of experience and strong local expertise in the (MENA) region.
The U.S. administration has decided on a plan that entails the suspension of financial assistance for Ethiopia due to the country’s dispute with Egypt and Sudan over the Grand Ethiopian Renaissance Dam project.
Eni and British gas company BP have announced a new gas discovery in the "Great Nooros Area", located in the Abu Madi West Development Lease, in the conventional waters of the Nile Delta, offshore Egypt.
Egypt's EnviroTaqa for Sustainable Environmental Services & Renewable Energy signed a partnership and alliance contract with Swiss company Renergon International AG, for the development of biogas projects in Egypt.
The U.S. government, through the USAID and Chipsy for Food Industries, a PepsiCo Egypt company, renewed a partnership that boosts the productivity of farmers and builds a more transparent and sustainable potato supply chain.
Egyptian luxury bedding supplier Pure Parima, will be adding brand new sheet colors called Spa and Linen to its Yalda and Ariane product lines.
In a new move aimed at improving the resilience of Egypt’s power transmission network, Siemens Energy has been selected by the Egyptian Electricity Transmission Company (EETC) to connect Bashaer El Khair City project in Alexandria.
Egyptian Ministry of Education and Technical Education has signed a cooperation protocol with Orange Egypt to provide hosting services and provide the cloud infrastructure necessary to operate and manage a digital platform for e-lessons.
Global credit rating agency AM Best has affirmed the Financial Strength Rating of B++, Good, and the Long-Term Issuer Credit Rating of “bbb+” of gig Insurance - Egypt S.A.E.
Egypt’s Finance Ministry has signed the first Islamic conventional financing which aims at supporting Egypt's public budget and economy.
EgyptAir and Air Cairo have initialised their first step of cooperation through signing a codeshare agreement extending both airlines’ networks to further destinations domestically and beyond Cairo Airport.
Orange Egypt, Misr El Kheir Foundation partner to provide hospitals with FDA approved COVID-19 testing kits
Orange Egypt signed a new cooperation protocol with Misr El Kheir Foundation and Prime Speed Medical to provide hospitals with FDA approved rapid test kits to diagnose COVID-19 infected cases.
Banque Misr has signed a cooperation protocol with the Egyptian Company for Metro Management and Operation to deploy ATM machines at all subway stations.
Africa Data Centres and Benya Cables have entered into a strategic supply agreement to secure continuous sourcing of critical fiber optic technology and equipment to continue building Africa’s digital future.
The Egyptian Electricity Transmission Company (EETC) has decided to cancel a recently launched tender for the construction of a 200 MW solar PV project in the West Nile region of Egypt.
DeepTech Oil Services announced the successful completion of a break through intervention project delivered in the Zohr gas field in the Egyptian sector of the Mediterranean Sea for Eni and the EGPC.
In support of Egypt’s Ministry of Social Solidarity, the WFP has started providing financial assistance for mothers registered under the Ministry’s ‘Takaful and Karama’ programme and their children under 2 years to prevent malnutrition.
Siemens Energy has signed a long-term preventive maintenance contract with the Egyptian Ethylene and Derivatives Company (ETHYDCO), for its industrial complex in Alexandria, Egypt.
Kaspersky analysis has revealed that phishing attacks are becoming increasingly more targeted. A number of new tricks have also been found - from HR dismissal emails to attacks disguised as delivery notifications.
TGS announced it has commenced its first-ever regional airborne Enhanced Full Tensor Gravity Gradiometry (eFTG) multi-client survey together with magnetic and Lidar data in Egypt.
Clarivate P, a global provider of information and insights has launched the Arabic Citation Index™ (ARCI), the world's first local language citation index for the Arabic world in Egypt.